The transaction would give Gesa its first Oregon retail branches, with Oregon Bancorp shareholders expected to receive an estimated $43.00 to $45.00 per share if the deal closes in the first half of 2027.
Gesa Credit Union has agreed to acquire substantially all assets of Salem-based Willamette Valley Bank and assume substantially all of its liabilities in an all-cash transaction, expanding the Washington-based credit union into Oregon for the first time. The deal, announced with parent company Oregon Bancorp, Inc., was unanimously approved by the boards of all three entities and still requires regulatory approval and approval from Oregon Bancorp shareholders. Closing is expected in the first half of 2027, after which Willamette Valley Bank and Oregon Bancorp would dissolve and remaining assets would be distributed to Oregon Bancorp stockholders, who are expected to receive an estimated $43.00 to $45.00 per share. Willamette Valley Bank’s four branches in Linn and Marion counties and its loan office in Washington County are expected to remain open with the same staff, while customers would become member-owners of Gesa after closing. The companies framed the combination as pairing community-bank roots with the scale and product range of one of the Pacific Northwest’s largest credit unions.